Sunil Mittal in talks to buy $2 billion stake in Haier India

Sunil Mittal is in advanced talks to acquire a 49% stake in the Indian unit of China’s Haier Smart Home Co., according to people familiar with the matter, as the billionaire looks to tap growing demand for goods such as home appliances in the South Asian country.

The Bharti Airtel Ltd. founder has teamed up with private equity firm Warburg Pincus to buy the stake in Haier Appliances (India) Pvt. for about $2 billion, the people said, asking not to be identified because the information isn’t public. A deal could be signed in a few weeks, pending approvals, the people said.